Buyology

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Buyology

  1. 1. Gl                                                                                                                                  MAC
  2. 2. Agenda 30 mins Discussion and Feedback 30 mins Concepts from Six Sigma- Koushik 30 mins Radio Marketing:-  Angad Menon 30 mins Lessons from “Buyology”-Manjit
  3. 3. The Truth and lies about what we buy. - Buyology By Martin Lindstrom
  4. 4. INTRODUCTION <ul><li>Buyology describes the result of marketing guru Martin Lindstrom’s pioneering three year, $7 million dollar study. </li></ul><ul><li>Why buyology:- </li></ul><ul><li>1) Half of advertising budget is wasted. Trouble is don’t know which half?—John Wanamaker </li></ul><ul><li>2) What drives consumers to make the choices they do? </li></ul><ul><li>3)What causes us to choose one brand over other? </li></ul><ul><li>4)What are shoppers really thinking? </li></ul><ul><li>5)Why in US every 8 out of 10 products fail and 9.7 out of 10 fails in Japan? </li></ul><ul><li>4) Does advertising really influence our behavior? </li></ul><ul><li>Based on the largest neuromarketingstudy ever conducted, Buyology reveals how marketers and advertisers truly capture our attention, our loyalty, and our money. </li></ul>
  5. 5. Kick start <ul><li>$7 million dollar study that used the latest in brain scan technology to peer into the minds of over 2,000 people from around the world. </li></ul>
  6. 6. CHAPTER 1: A rush of blood to the head
  7. 8. Daimler Chrysler
  8. 9. Chapter 2: This Must Be the Place Brand Recall:- 1)1965 a typical customer has 34 percent brand recall.--------  1990 it has fallen to 8 percent --  2007 it is only 2.2%------------------ According to AC Neilson Study 2)Presence of tools like TiVo which can enable us to view serials and movies without advertisements .
  9. 10. <ul><li>In Short we don’t have any memory of brands that don’t play an integral part in the story line of program. </li></ul>
  10. 11. Chapter 3: I’ll Have What She’s Having <ul><li>Why any one will buy this? </li></ul>> Concept of Mirror Neurons >Concept of Dopamine
  11. 12. Dopamine Mirror Neurons Brodmann area 10
  12. 13. Chapter 4 –I can’t see clearly now <ul><li>Concept of Subliminal Advertising:- </li></ul>
  13. 14. BUREAUC RATS Nucleus Accumbens
  14. 15. Chapter 5 –Do you believe in magic? <ul><li>Rituals,Superstition and Why we buy? </li></ul><ul><li>Number 13 </li></ul><ul><li>Word “si” </li></ul><ul><li>8/08/08 at 8:08:08PM </li></ul>
  15. 16. Chapter 6 –I say a little prayer <ul><li>Faith,Religion and Brands </li></ul>
  16. 18. Irish Soil Holy Drinking Water
  17. 21. <ul><li>60 percent of the products we buy in the supermarket we choose spontaneously, and that 80 percent of these we picked within just four seconds? </li></ul><ul><li>Choice between Dunlop,Bridgestone and Good Year. </li></ul>Chapter 7 –Why did I choose you? The Power of Somatic Markers
  18. 22. WTC
  19. 23. ISKLIDE and Coke
  20. 24. Chapter-8 A sense of wonder <ul><li>Selling to our Senses </li></ul><ul><li>Today we are more visually over stimulated than ever before and studies show that more over stimulated we are the harder is to capture our attention . </li></ul><ul><li>1)Coffee Shops </li></ul><ul><li>2)Johnson and Johnson </li></ul><ul><li>3)Nike </li></ul>
  21. 27. Chapter 9-And the Answer is…….. <ul><li>Neuromarketing and Predicting the future </li></ul><ul><li>1)Traditional market research. </li></ul><ul><li>2)Failure of Ford </li></ul><ul><li>3)Failure of “Premier” </li></ul>
  22. 28. Chapter-10-Let’s spend the night together. <ul><li>Sex in advertising </li></ul><ul><li>1)Became Prominent with Calvein Klein (1980’s)- Can’t show Pics  </li></ul><ul><li>2)Experiment of Sex and the City and Malcolm in the middle </li></ul><ul><li>3)9.8%vs 20% for men and 10.85% vs 23% for Women </li></ul><ul><li>Conclusion:-“Sex doesn't sell anything other than itself” </li></ul>
  23. 29. Chapter 11-Conclusion <ul><li>Brand New day </li></ul>
  24. 30. <ul><li>Buyology bears witness to an historic meeting between science and marketing . </li></ul><ul><li>Its is still in its infancy. </li></ul><ul><li>Christian dior,Unilever,Microsoft and many other companies have started using it </li></ul>
  25. 31. <ul><li>THANK YOU </li></ul>

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